BURLINGTON, N.C.--(BUSINESS WIRE)--LabCorp® (NYSE: LH), a leading global life sciences company, announced
today that it has received approval from the U.S. Food and Drug
Administration (FDA) for the UltraQual® Multiplex PCR Assay for HCV,
HIV-1, HIV-2 and HBV for screening of donated blood plasma. This
innovative assay, which was developed and will be exclusively offered by
its National Genetics Institute (NGI) laboratory, builds upon LabCorp’s
rich history in the development and commercialization of novel
diagnostic tests.

The UltraQual Multiplex PCR Assay enables the simultaneous and sensitive
detection of four viral targets (HCV, HIV-1, HIV-2 and HBV) in a single
sample. Coupled with NGI’s previously FDA-approved and exclusive process
to greatly increase testing throughput, the new UltraQual Multiplex PCR
Assay provides enhanced turnaround time and value to the rapidly growing
biologics sector of the biopharmaceutical industry.

According to the FDA, biologics products include vaccines, blood and
blood components, allergenics, gene therapies, somatic cells, tissues
and recombinant proteins. Biologics therapies derived from plasma treat
well-defined medical conditions, replacing missing or deficient proteins
found in an individual’s plasma and allowing patients to lead healthier
and more productive lives through the benefits of the therapy. Biologics
therapies make up more than one-third of the biopharmaceutical industry
pipeline, and this new test is available to all biopharmaceutical
companies involved in the manufacturing of plasma-derived therapies to
enhance the safety and availability of these important medicines.

“We are excited to receive FDA approval for the UltraQual Multiplex PCR
Assay, as it demonstrates LabCorp’s continued commitment to delivering
world-class diagnostic solutions that help to bring new medicines to
patients faster, thereby improving health and improving lives,” said
Marcia Eisenberg, Ph.D., chief scientific officer of LabCorp
Diagnostics. “This next-generation technology offers the international
biopharmaceutical industry a differentiated solution to improve plasma
donor collection programs and the manufacturing of plasma protein
therapies for a variety of life-threatening conditions including
bleeding, immune, cardio/pulmonary, and neurological disorders.”

On March 9, 2018, LabCorp announced that its Covance Drug Development
business formed a global immunology and immunotoxicology (I&I) unit
dedicated to the specific needs of biologic drug development. The
formation of this unit, along with Covance’s doubling of its I&I
laboratory footprint and LabCorp Diagnostics’ expanding suite of
biologic therapeutic drug monitoring tests, illustrate LabCorp’s
expanding expertise and leadership in the development and
commercialization of new services to support the rapidly growing
biologics market.

Octapharma Plasma (OPI), a company that collects donated blood plasma
for use in the creation of life-saving medicines, expressed early
interest in using the UltraQual Multiplex PCR Assay.

The NGI team is available to assist clients with incorporating the
UltraQual Multiplex PCR Assay into their plasma screening operations.
Please contact NGI at (800) 352-7788 or visit www.ngi.com
for more information.

About LabCorp

LabCorp (NYSE: LH), an S&P 500 company, is a leading global life
sciences company that is deeply integrated in guiding patient care,
providing comprehensive clinical laboratory and end-to-end drug
development services. With a mission to improve health and improve
lives, LabCorp delivers world-class diagnostic solutions, brings
innovative medicines to patients faster and uses technology to improve
the delivery of care. LabCorp reported net revenues of over $10 billion
in 2017. To learn more about LabCorp, visit www.labcorp.com,
and to learn more about Covance Drug Development, visit www.covance.com.

Forward-Looking Statements

This press release contains forward-looking statements about
LabCorp’s future operations. Each of the forward-looking statements is
subject to change based on various important factors, including without
limitation, competitive actions in the marketplace, and adverse actions
of governmental and other third-party payers. Actual results could
differ materially from those suggested by these forward-looking
statements. LabCorp has no obligation to provide any updates to these
forward-looking statements even if its expectations change. Further
information on potential factors that could affect operating and
financial results is included in LabCorp’s Form 10-K for the year ended
December 31, 2017, and subsequent Forms 10-Q, including in each case
under the heading risk factors, and in LabCorp’s other filings with the
SEC. The information in this press release should be read in conjunction
with a review of LabCorp’s filings with the SEC including the
information in LabCorp’s Form 10-K for the year ended December 31, 2017,
and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.